Forex Charts

The risk revival gained traction yesterday. Activity was greater than we were expecting as some markets, like rates, broke decisively lower. As the European equity markets approach their recent range highs and the breakout levels above, the going is likely to get tougher for the risk revival.

Key question for the week; extending or ending the corrections? Many markets have arrived or are close to arriving at primary correction targets hence the need of monitoring them more closely.

Asian sentiment is quite depressed. But evidence from the relative performance of Macau casino stocks suggests that at least an interim low in Asian equity indices is close. The anticipated decline in Asian FX is nearing the end of the first phase and Japanese bond yields continue to provide evidence of being one of the […]

Heading into NFP, the outlook for equities continues to improve. The recent outperformance of the DAX and CAC40 against the S&P 500 has been impressive and both these markets appear to be on the verge of completing basing patterns.

Basically more of the same as yesterday. EUR on a slightly better footing but approaching potential points. Equities still leading the correction race. EURUSD entered its primary correction target, EURJPY trying a resistance line, AUD potentially extending rise to 0.99, GBP index tanked after BOE and is expected to continue along that path,